4 Important Things You Can Do to Boost Social Security Payment

With a new year comes an opportunity to restructure your personal finance and plan for the future.

Some Americans work all through their lives unaware that there are ways they can legally increase their social security number.

Here are some things you can do to bump up your social security payment.


Investing in Roth 401(k) or Roth IRA can make a huge difference in your future Social Security benefits because it can help you to avoid a situation where your retirement income is taxed, which a growing number of seniors are made to go throughout each year. You will go through this problem if you invest in a traditional Roth 401(k) or Roth IRA

The federal government does not tax social security until your provisional income reaches $25,000 as a single tax filer or $32,000 as a married filer. If you are in this threshold, up to 50% of benefits are taxed. And if your income exceeds $34,000 as a single filer or $44,000 as a married joint filer, up to 85% of benefits will be taxed. Provisional income is half your Social Security, some nontaxable income, and all taxable income.


How well you live after retirement begins while you are interviewing for a job or during an annual performance review. Job seekers are advised to negotiate their salaries. Social Security benefits are based on average income over your career. So if you increase your average income, your benefits will go up.

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According to studies, failing to negotiate your salary could cost you as much as $600,000 in lost income over your career. Receiving a small amount of salary over a long period of time affects your social security benefits.


Knowing that the amount of salary you collect over time affects how much you collect as social security benefits, should spur you into getting a better-paying job. The great resignation might be a time for you to job hunt.


If your salary job allows you free time, then it is not a bad idea to consider having extra income from jobs or running a small business. Any income you pay Social Security taxes on counts toward the average wage that sets your benefits. Consider having a second job in order to increase your average wage which counts in determining your social security benefit.

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